A letter of explanation should tell the lender why an event happened and describe steps you’ve taken to solve or recover from the issue, if applicable. Not every borrower needs to write a letter ...

There have been numerous letters of late criticizing this paper for errors in the use of grammar, and spelling. I have noticed them too, and brush it off. They say news print is written in ...

Understanding inflation made simple: if you blow too much air into a balloon, it bursts. If you drink too much alcohol, the toxicity gives you a headache and can kill you. If you create too much money ...

National Letter of Intent penalties to lighten for college athletes beginning in 2024-25 cycle, per report Among other things, prospects will no longer be penalized for requesting a release during ...

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Key takeaways. A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance.

In a letter of explanation for your mortgage application, you may need to account for any late payments, collection accounts, judgments or bankruptcies on your credit history.

If your credit report has any negative history, a lender may require a letter of explanation for a mortgage application. Needing a letter of explanation isn't a cause for panic, but it's something ...

Promptly providing a letter of explanation to your lender can help expedite the loan process and move you one step closer to closing. If you don’t, your loan closing could be delayed or even denied.